UK’s Frost: Auto industry risks losing out even if there is a post-Brexit trade deal – BBC

Dhwani Mehta FXStreet

Britain's car industry risks losing out even if there is a post-Brexit trade deal with the European Union, according to a letter from the UK Chief Negotiator David Frost, seen by BBC News.

Car parts from Japan and Turkey used in the UK will not be treated as British, so some exports may see higher tariffs, Frost added in the letter.

Market reaction

GBP/USD extends losses towards 1.2800 on renewed Brexit concerns while the US dollar remains bid after the first US Presidential election debate.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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